and the Subscribers entered into the Subscription Agreement in respect of the issue of the Convertible Bonds in the aggregate principal amount of HK$138 million due two years from the Issue Date convertible into Shares at the Conversion Price of HK$1.58 per Conversion Share. Assuming full conversion of the Convertible Bonds, a total of 87.34 million Conversion Shares will be issued by the Company, representing approximately 4.30% of the Company’s issued share capital as enlarged.
The Directors consider that the issue of the Convertible Bonds will provide the Company with additional funding without having an immediate dilution effect on the shareholding of the existing Shareholders. Further, if the conversion rights attaching to the Convertible Bonds are exercised, the capital base of the Company shall be broadened.
The estimated net proceeds from the issue of the Convertible Bonds of approximately HK$137 million will be used for the repayment of certain loans and the general working capital of the Group.
In relation to the stock quote service (the "Quote Service") information, the stock price, trade volume and turnover are provided by The Stock Exchange of Hong Kong Limited ("SEHK") and/or HKEx Information Services Limited ("Exchange-supplied information"), whilst modifications to and adaptations of the foregoing are made by Quam (H.K.) Limited ("Quam-supplied information"). For the Exchange-supplied information, you may refer to SEHK's website at http://www.hkex.com.hk/ and for Quam-supplied information, you may refer to http://www.quamnet.com/. There may be a delay between the Quote Service information and the Exchange-supplied information or the Quam-supplied information.
SEHK and Quam (H.K.) Limited endeavour to ensure the accuracy and reliability of the Exchange-supplied information and the Quam-supplied information respectively but do not guarantee their accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
The above information is supplied by our data providers (SHK Financial Data, Xinhua Finance and Infocast among others) and is for reference purposes only. Neither the Group nor any of its data providers is liable or responsible for the accuracy and reliability of the above information. The Group is not responsible for any loss or damage which may be incurred as a result of any decisions made in reliance on the information contained herein or caused by informational errors or delays.
